Short sales done right.....finally!

I was skepitical at first when my brokerage was setting down rules and guidelines on how we were to conduct short sales. It has been my attitude to see everything else first then if we just had to we would look at short sales. They take a long time, the commision is always reduced, and worst of all the clients suffer by not knowing if they will ever actually get to buy the house.

With the reduction in the number of foreclosures and regular sales far and few between, the only thing to really look at are short sales.

Lyon Real Estate along with other prominate brokerages in the Sacramento area is setting the standard for how this transactions are going to be handled. 1st, the offer accepted by the sellers will require the EMD(earnest money deposit) check to be cashed and placed with the title company. This will ensure serious buyers and not just people shopping short sales with the same check on 20 different properties. 2nd, all offers received after the accepted offer will be placed as back up offers to the accepted one. This will ensure that the bank is not interrupted mid-stream by a new offer and have to start over (remember we are obligated to the seller or buyer, not the bank). Then there are several other things that Lyon is putting in place for agent protection.

All good things as far as I can tell. At first I was defensive but then after listening and thinking about it, it just makes sense. Work smarter not harder.

Short sales will still take a long time, and banks will still screw up deals but at least I know I will be working as effective and efficient as I can.

Got a short sale or considering a selling as a short sale, I am ready for you.

Steve Jacobs

Lyon Real Estate.